Fintel reports that on May 17, 2023, Stifel maintained coverage of Crestwood Equity Partners LP - Unit (NYSE:CEQP) with a Buy recommendation.
Analyst Price Forecast Suggests 23.78% Upside
As of May 11, 2023, the average one-year price target for Crestwood Equity Partners LP - Unit is 30.49. The forecasts range from a low of 25.25 to a high of $33.60. The average price target represents an increase of 23.78% from its latest reported closing price of 24.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Crestwood Equity Partners LP - Unit is 6,257MM, an increase of 10.16%. The projected annual non-GAAP EPS is 1.83.
Crestwood Equity Partners LP - Unit Declares $0.66 Dividend
On April 20, 2023 the company declared a regular quarterly dividend of $0.66 per share ($2.62 annualized). Shareholders of record as of May 8, 2023 received the payment on May 15, 2023. Previously, the company paid $0.66 per share.
At the current share price of $24.63 / share, the stock's dividend yield is 10.64%.
Looking back five years and taking a sample every week, the average dividend yield has been 10.96%, the lowest has been 5.95%, and the highest has been 70.42%. The standard deviation of yields is 7.89 (n=237).
The current dividend yield is 0.04 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 5.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 205 funds or institutions reporting positions in Crestwood Equity Partners LP - Unit. This is a decrease of 4 owner(s) or 1.91% in the last quarter. Average portfolio weight of all funds dedicated to CEQP is 0.53%, a decrease of 7.08%. Total shares owned by institutions decreased in the last three months by 0.45% to 83,019K shares. 
The put/call ratio of CEQP is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Alps Advisors holds 12,480K shares representing 11.86% ownership of the company. In it's prior filing, the firm reported owning 12,335K shares, representing an increase of 1.16%. The firm decreased its portfolio allocation in CEQP by 5.38% over the last quarter.
AMLP - ALERIAN MLP ETF holds 12,236K shares representing 11.62% ownership of the company. In it's prior filing, the firm reported owning 10,634K shares, representing an increase of 13.10%. The firm decreased its portfolio allocation in CEQP by 0.90% over the last quarter.
First Reserve GP XIII holds 11,276K shares representing 10.71% ownership of the company. No change in the last quarter.
Invesco holds 4,281K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 1,547K shares, representing an increase of 63.85%. The firm decreased its portfolio allocation in CEQP by 76.79% over the last quarter.
Bank Of America holds 2,888K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 3,448K shares, representing a decrease of 19.38%. The firm decreased its portfolio allocation in CEQP by 81.66% over the last quarter.
Crestwood Equity Partners Background Information
(This description is provided by the company.)
Houston, Texas, based Crestwood Equity Partners LP is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood Equity is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
